So-called recurring operating income advanced 2.3 percent
to 843 million euros ($1.1 billion) in the six months ended June
30, the Paris-based company, formerly known as PPR, said today
in a statement. Analysts predicted 824 million euros, the median
of 16 estimates surveyed by Bloomberg.

“Trends recorded in the first six months of 2013 should
continue in the second half,” Kering said in the statement.
“In this context, the group maintains its goal of improving its
operating and financial performances in the full year.”

The restated figures exclude media and electronics retailer
Groupe Fnac, (FNAC) which the company spun off in June as part of a
plan to focus on luxury and sporting goods. Kering has started
talks with industrial buyers and private-equity funds over the
sale of online and mail-order fashion retailer La Redoute, which
it expects to finalize this year.

Hermes International SCA (RMS) said last week that sales growth
may exceed 10 percent this year after selling more Kelly
handbags and other products in Asia and the Americas. Global
luxury sales will rise as much as 5 percent this year, Bain &
Co. estimates.